Wells Fargo tries online education

Northwestern Financial Review, Oct 15-Oct 31, 2002

When four in 10 high school seniors think credit cards and auto loans have lower interest rates than mortgage loans, it's not hard to believe that nearly 90 percent of U.S. high school students graduate without knowing the basics of money management.

In September, Wells Fargo's Minneapolis location launched an initiative to address -the problem. "Banking on the Future" is a program that reaches students as young as fourth grade; it is designed to grow with students through high school and into adulthood. Offered in English and Spanish, the Internet-based program teaches youth and adults about the role of a bank, checking and savings accounts, budgeting, the importance of credit and different types of investments.

"As a Wells Fargo volunteer, it's rewarding to be able to contribute to future generations in such a powerful way," said Marilyn Dahl, Wells Fargo regional president for Twin Cities Community Banking. "Through the Banking on Our Future program, we're helping youth get on the right track, beginning with their first banking experience. We believe financial literacy is something that families, companies and communities can all benefit from."

"Many schools, community groups and nonprofits could benefit from using the Banking on Our Future program," said David Wiese, Wells Fargo Community Development representative. "We encourage individuals to use the program in community and classroom presentations, share the Web site address with local schools, youth groups and nonprofits or merely go through the tutorial with their children."

The Banking on Our Future curriculum includes classroom instructor's guides and teaching tips, all of which are available online and can be downloaded from www.bankingonourfuture.org or www.elfuturoentusmanos.org.